Deadline for £10 notes: Why there's no need to panic spend

Ten pounds is worth less than it once was

Ten pounds is worth less than it once was

Production of the new £10 note began August previous year and the notes were released into circulation that September.

They have been under pressure to do so from the Federation of Small Businesses, which said this would help get the older versions out of circulation quicker.

You have just one day left to spend the old cotton-paper £10 notes before they cease to be legal tender.

THE old £10 notes are going out of circulation tomorrow.

Anecdotally, we have seen some shops accept old £5 notes and round £1 coins in the days after they ceased to be legal tender, but chances are a cashier will reject them.

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Some banks and building societies may accept the old notes - but this doesn't mean they all will, so best to get them all changed today.

The new paper tenner is durable and more environmentally friendly than the paper tenner. If you find an old £5 note and don't fancy keeping it as a souvenir, then the BoE will still exchange them indefinitely if you post it or bring it to Threadneedle street in person.

When the design of the new £10 was first unveiled in July previous year it was praised by members of the blind and visually impaired community for its tactile features.

Raised dots, similar to braille characters, on the left-hand side of the note and fine raised lines on the right, help those who can not see to differentiate it from notes of other denominations.

A new polymer £20 featuring artist JMW Turner is due to be issued by the Bank of England in 2020. There are now no plans to re-develop the current £50 note.

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